SBI, PNB: Should you buy PSU banks after RBI kept interest rate unchanged?

Both the technical parameters - Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) for Nifty PSU Bank index are trading with negative crossover and indicate weakness

NIFTY PSU BANK: The index has broken 2532 level, which is its 100-day moving average (DMA) as per the daily chart. This reflects a minor weakness. Going ahead, if ths 50-DMA, which is placed at 2400 levels gets broken, more selling pressure is expected. Currently, both the technical parameters - Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) - are trading with negative crossover and indicate weakness. On the higher side, the 200-DMA located at 2,800 will act as a resistance. CLICK HERE FOR THE CHART

State Bank of India (SBIN): The